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☆ Russia Bombs Power Plants and Ukraine Targets Refineries in Dueling Attacks
▼ + stars: | 2024-04-27 | by ( Marc Santora | ) www.nytimes.com time to read: +1 min

As Russian missiles streaked through the skies above Ukraine before dawn on Saturday, once again targeting the nation’s already battered energy grid in a broad and complex bombardment, Ukrainian drones were flying in the other direction, taking aim at vital oil and gas refineries and other targets inside Russia. The Ukrainian Air Force said its air defense teams had intercepted 21 of the 34 Russian cruise and ballistic missiles fired from land, air and sea-based systems, but the attack caused extensive damage to four thermal power plants and other critical parts of the power grid in three regions. Russia’s Ministry of Defense said it had shot down 66 Ukrainian drones over the Krasnodar region, which is just across the Kerch Strait in southern Russia, east of the occupied Crimean Peninsula. Veniamin Kondratyev, the head of the regional government, said the Ukrainians drones had targeted two oil refineries, a bitumen plant, and a military airfield in Kuban.

Persons: Veniamin Kondratyev Organizations: Russian, Ukrainian Air Force, Russia’s Ministry of Defense Locations: Ukraine, Russia, Krasnodar, Kerch, Crimean, Kuban

They call it an encirclement of their nation and say the United States is trying to constrain its main economic and military rival. The United States also has a new security agreement with Papua New Guinea. On Wednesday, Mr. Biden signed a $95-billion supplemental military aid and spending bill that Congress had just passed and that includes $8.1 billion to counter China in the region. In addition, the United States continues to send weapons and Green Beret trainers to Taiwan, a de facto independent island and the biggest flashpoint between the United States and China. A swarm of Chinese militia and Coast Guard vessels chased a Philippine Coast Guard ship in the South China Sea last year.

Persons: Xi Jinping, Biden, Antony J, Blinken, Yuri Gripas, ” Ely Ratner, Xi, ” Kurt Campbell, Joseph Wu, ”, “, Samuel J, Paparo Jr, Mr, Paparo, Carl Vinson, Richard A, Brooks, Trump, Lloyd J, Austin III, Chen Jining, Jes Aznar, David H, Berger, Obama, Tony Mcdonough, United States —, Admiral Paparo, China’s “ revanchist, we’re Organizations: Australian, U.S, Marines, United, Pentagon, Corps, Mr, White House, White, The New York Times, American, Marine, Green, China’s, Liberation Army, Seoul SOUTH, Pacific Command, People’s Liberation Army, Agence France, Nuclear Forces Treaty, Defense, Communist Party, Tokyo Okinawa, U.S . Navy, Coast Guard, Philippine Coast Guard, Marine Corps, Army, Philippines Luzon Partner, Australia Darwin Potential, NATO, Tomahawk Locations: Beijing, United States, Papua New Guinea, Philippines, Japan, Okinawa, Taiwan, Asia, Pacific, U.S, China, Shanghai, South China, South Korea, Guam, Washington, Manila, Taipei, People’s Republic of China, Palau, West Papua, Seoul, Tokyo JAPAN CHINA Taipei TAIWAN Hong Kong, GUAM philippines MALAYSIA INDONESIA JAPAN CHINA TAIWAN, philippines GUAM, INDONESIA Seoul, GUAM philippines, MALAYSIA INDONESIA, Philippine, Moscow, Tokyo, Ryukyu Islands, South, Philippines Luzon, Luzon, Spratly, Australia, Canberra, Singapore, Darwin, Australia’s, . North Carolina, Virginia, Perth, United Kingdom, Navy’s, America

The top US diplomat landed in Shanghai where he is expected to meet local officials and business leaders, and he will then travel to Beijing for meetings with senior Chinese officials. “We are in a different place than we were a year ago when the bilateral relationship was at an historic low point,” a senior State Department official said. “Russia is no longer kind of on its back foot,” a second senior State Department official said. Blinken will make the case that China should weigh in “more directly” with Iran to be less provocative in the region, the second senior State Department official said. “In both cases the Chinese have taken some early steps,” said the second senior State Department official, adding that there is still “much more” that needs to be done on both fronts.

Persons: Antony Blinken, Joe Biden, Xi Jinping, Janet Yellen, Biden, Xi, ”, “, ” Blinken, Matthew Miller, Leah Millis, China’s, ” Xi, Blinken, ” Miller, it’s, Mark Swidan, Kai Li, David Lin Organizations: CNN, State Department, Ukraine, US, Foreign Ministry, of, People, Biden, Chinese Foreign Ministry, ASEAN, Association of Southeast Asian Nations, Beijing, Party, Taiwan, Communist, Taiwan Relations, White Locations: China, Ukraine, Shanghai, Beijing, California, Russia, Moscow, Italy, “ Russia, ”, Europe, United States, South China, Philippine, Washington, Philippines, South, Taiwan, Taiwan Strait, East, Iran

This month, President Biden threw one of the most lavish state dinners in Washington’s recent memory. Celebrities and billionaires flocked to the White House to dine in honor of Prime Minister Fumio Kishida of Japan, posing for photos in front of an elaborate display of Japanese fans. The spectacle was part of a carefully orchestrated series of events to showcase the renewed U.S.-Japan relationship — and the notable transformation of the United States’ security alliances in Asia. Over the past several years, Washington has built a series of multilateral security arrangements like these in the Asia-Pacific region. Although U.S. officials claim that the recent mobilization of allies and partners is not aimed at China, don’t believe it.

Persons: Biden, Fumio Kishida, Jeff Bezos, Paul Simon, —, Ferdinand Marcos Jr, Kishida Organizations: United Locations: Japan, U.S, United States, Asia, Philippines, China, Washington, Pacific, South China, Taiwan Strait

☆ A British Airways flight to nowhere circled in the air for 4 hours after its weather monitoring system collapsed
▼ + stars: | 2024-04-23 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Read previewAn already delayed British Airways plane that took off from Singapore landed back at the same airport five hours later after a technical fault forced it to turn back. British Airways Flight 12 circled Singapore for around four hours before landing back where it started. Advertisement"Planes are designed to land below certain weights," Business Insider previously reported. Advertisement"We currently do not have a revised departure time for your flight," British Airways said in an email to passengers at about 9:15 a.m. local time. However, that flight had to be canceled, as British Airways did not have any other aircraft available.

Persons: — Organizations: Service, British Airways, London Heathrow, Business, Airbus, Flightradar24 Aircraft, Passengers, Singapore Changi Airport, Heathrow Locations: British, Singapore, Singapore Changi, London, Malaysia, Heathrow, Los Angeles

☆ Aboriginal spears returned to Australia after 250 years
▼ + stars: | 2024-04-23 | by ( Jack Guy | ) edition.cnn.com time to read: +3 min

CNN —A British university has given back four spears taken more than 250 years ago from an aboriginal community in Australia by explorer Captain James Cook. Trinity College Cambridge permanently repatriated the spears to the La Perouse Aboriginal Community at a ceremony Tuesday, according to a joint statement from the college and the Australian Institute of Aboriginal and Torres Strait Islander Studies (AIATSIS), which supported the move. “The spears were pretty much the first point of European contact, particularly British contact with Aboriginal Australia,” said Ray Ingrey, director of the Gujaga Foundation, a research organization working in the La Perouse community, in the statement. The resulting British colonization of Australia resulted in the introduction of foreign diseases, displacement, and massacres against the aboriginal people. National Museum of AustraliaSome members of the La Perouse Aboriginal Community are direct descendants of those who crafted the spears, according to the statement.

Persons: CNN —, Captain James Cook, ”, Ray Ingrey, AIATSIS Cook, Rod Mason, Noeleen Timbery, Sally Davies, Trinity Organizations: CNN, British, Captain James Cook . Trinity College Cambridge, La, La Perouse Aboriginal, Australian Institute of Aboriginal, Torres Strait Islander, Aboriginal, Gujaga Foundation, HMS, Trinity College, of Archaeology, National Museum of Australia, La Perouse Aboriginal Community, Aboriginal Land Council, Elders, Trinity Locations: Australia, La Perouse, Kamay, Aboriginal Australia, Botany, Kurnell, New Zealand, Cambridge, Kurnel, Perouse

☆ German frigate Hessen sailors were on watch 12 hours a day in the Red Sea with only seconds to react to threats in the 'worst case scenario'
▼ + stars: | 2024-04-22 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

Read previewSailors aboard a German warship that was recently deployed to the Red Sea were on watch for 12 hours a day, and in the "worst" situations, they might've only had seconds to respond to the deadly Houthi threats endangering ships in these waters. The Hessen, a Sachsen-class frigate, left the Red Sea and entered the Suez Canal on Saturday after spending nearly 60 days operating in Middle Eastern waters, Germany's military said Monday. Around 240 crew members aboard the Hessen were on "a permanent war march" during the mission, the German military said in a statement, according to a translation. German military photoThe short timeframe underscores how fast some of the Houthi threats are. In late-February, the Hessen accidentally targeted a US MQ-9 Reaper drone that was operating around the Red Sea and fired several missiles at the aircraft.

Persons: —, Bab, Volker Kübsch, Kübsch Organizations: Service, Business, US Navy, German Navy, Navy, Aspides, Sachsen Locations: Hessen, Sachsen, Suez, Yemen, Gulf, Aden, Mandeb, Germany, Wilhelmshaven, Hamburg

☆ Opinion: Right now, I’d rather raise my child in Taiwan than America
▼ + stars: | 2024-04-22 | by ( Opinion Clarissa Wei | ) edition.cnn.com time to read: +10 min

My dad still remembers the anxiety that engulfed the island when the United States cut off diplomatic recognition of Taiwan in favor of the People’s Republic of China in 1979. My parents considered America a safe haven and wanted me to grow up with all its comforts. Of course, comparing the United States and Taiwan this way without acknowledging the nuanced socio-political contexts can be misleading. Clarissa WeiThe biggest shift, then, has been how the people of Taiwan perceive the United States. The United States, on the flip side, is the 131st.

Persons: Clarissa Wei Editor’s, Clarissa Wei, “, ”, Annabelle Chih, there’s, Tyrone Siu, Donald Trump, Joe Biden, “ Wei, Ting Yen, I’m, nodded, Billy H.C, Kwok, It’s, Republican —, Xi Jinping, “ Trump Organizations: Taipei CNN, CNN, America, Metro, Trump, Taiwan, Franklin & Marshall College, 131st, San Francisco Bay Area, China’s Communist Party, Republican Locations: Taiwanese American, Taipei, Taiwan, China, United States, People’s Republic of China, America, Los Angeles, Taiwanese, Kaohsiung, San Francisco Bay

☆ US sends land-attack missile system to Philippines for exercises in apparent message to China
▼ + stars: | 2024-04-22 | by ( Brad Lendon | ) edition.cnn.com time to read: +8 min

The presence of the US Army’s Mid-Range Capability (MRC) ground-based missile system, increases the risks of “misjudgment and miscalculation” in a region already on edge over Chinese-Philippines face-offs in the South China Sea, Beijing says. It’s the first-ever deployment of the MRC missile system, also known as the Typhon system, to the Indo-Pacific theater, and it comes amid a series of US-Philippine military exercises, including the largest-ever edition of the bilateral Balikatan exercises beginning Monday. It also can fire the Tomahawk Land Attack Missile, a maneuverable cruise missile with a range of 1,600 kilometers (1,000 miles), according to the CSIS. Those are the same rules Washington and Manila accuse Beijing of ignoring with aggressive Chinese actions that have injured Filipino sailors and damaged vessels around disputed features in the South China Sea. US Army PacificChina’s missile advantageAnalysts say the deployment of the Typhon missile battery is the first signal of US plans to address what has long been an advantage for Beijing in the region.

Persons: Lin Jian, ” Lin, Stephen Koehler, “, equalizes, ”, Collin Koh, Christopher Milhal, Koh, Rupert Schulenberg, Donald Trump “, Thomas, CNN’s Steven Jiang Organizations: South Korea CNN, US, MRC, US Army, Missile Defense, Center for Strategic, International Studies, Foreign, US Pacific Fleet, Sunday, Xinhua, CNN, US Air Force, US Army Pacific, Beijing, Rajaratnam, of International Studies, People’s Liberation Army Rocket Force, ”, don’t, International Institute for Strategic Studies, South, Lewis, McChord, Nuclear Forces Treaty, Russian, Philippine News Agency, CNN Philippine Locations: Seoul, South Korea, China, United States, Philippines, South China Sea, Beijing, Philippine, South China, Taiwan Strait, Qingdao, Washington, Manila, Asia, Pacific, Japan, Taiwan, Guam, Singapore, South, Soviet Union, Palawan, Sulu, Spratly

☆ Taiwan to discuss new funding with U.S. as Chinese warplanes get close to island
▼ + stars: | 2024-04-21 | by ( ) www.cnbc.com time to read: +3 min

The United States is Taiwan's most important international supporter and arms supplier despite the absence of formal diplomatic ties. Democratically governed Taiwan has faced increased military pressure from China, which views the island as its own territory. Taiwan has previously reported Chinese military aircraft getting close to but not entering the contiguous zone. On Saturday, Taiwan's defence ministry said China had again carried out "joint combat readiness patrols" with Chinese warships and warplanes around Taiwan. China's defence ministry did not answer calls seeking comment outside of office hours on Sunday.

Persons: Ceng Shou Yi, Wang Ting Organizations: Getty, Taipei, U.S . House, Democratic Progressive Party Locations: China, Pingtung county, Taiwan, Taipei, Japan, Canada, India, Beijing, United States, Ukraine, Israel, U.S, Russian, Taiwan Strait, Taiwan's

☆ Blinken will travel to China amid concerns of global issues
▼ + stars: | 2024-04-20 | by ( Jennifer Hansler | Kylie Atwood | ) edition.cnn.com time to read: +3 min

Blinken will meet with senior Chinese officials in both Shanghai and Beijing during his April 24-26 visit, the official said. The official said Blinken has “three primary objectives for his trip to China.”“First, making progress on key issues; second, clearly and directly communicating concerns on bilateral regional and global issues; and third, responsibly managing competition,” the official said. Blinken, he continued, “will also reaffirm the importance of peace and stability across the Taiwan Strait.”During Blinken’s trip to China last June, he met in Beijing with top officials, including President Xi Jinping. The call came amid heavy global turbulence — the ongoing wars in Gaza and Ukraine, as well as North Korea’s nuclear capabilities, were topics of discussion. The two also spoke about issues that have strained the Washington-Beijing relationship, including Taiwan, China’s recent provocations in the South China Sea and Beijing’s human rights abuses.

Persons: Antony Blinken, Joe Biden, Xi, “, ”, Blinken, Xi Jinping, Wang Yi, MJ Lee, Donald Judd Organizations: CNN, Biden, Russia, State Department, US Locations: China, Washington, Beijing, American, Shanghai, Iran, Israel, South China, ”, Taiwan Strait, Gaza, Ukraine, Taiwan, South

☆ Oil prices get short-lived boost from attack on Iran
▼ + stars: | 2024-04-19 | by ( Laura He | Olesya Dmitracova | ) edition.cnn.com time to read: +4 min

Brent crude, the global oil benchmark, was down 0.4% at $86.8 per barrel, having earlier spiked more than 3%. The Israeli military has not commented, and Iran has not identified the source of the attack. Iran launched the attack in retaliation for a suspected Israeli strike on its embassy compound in Syria earlier this month. Iran is a big oil producer but exports most of its crude to China because of long-standing international sanctions. Mexico also said earlier this month that it would cut back oil exports because of strong domestic demand.

Persons: Brent, Israel, Benjamin Netanyahu, ”, ” Neil Shearing, Richard Bronze Organizations: London CNN, CNN, Capital Economics, Organization of, Petroleum, ANZ, United, Nikkei, Kospi, Tel Aviv Stock Exchange Locations: Hong Kong, London, Iranian, Isfahan, East, Iran, Syria, Hormuz, China, United States, Mexico, Asia, Israel, Tel Aviv

☆ 40% probability that trade through Strait of Hormuz will be disrupted
▼ + stars: | 2024-04-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'40% probability' that Israel-Iran tensions will disrupt shipping and oil trade at Strait of HormuzClay Seigle of Rapidan Energy Group says tensions between Israel and Iran have entered a "new chapter" as the "shadow war" between the two is now over.

Organizations: Rapidan Energy Locations: Israel, Iran, Strait, Hormuz Clay

☆ Israel and Iran: All-out war, or measured retaliation?
▼ + stars: | 2024-04-19 | by ( Natasha Turak | ) www.cnbc.com time to read: +5 min

Atta Kenare | AFP | Getty Imageswatch nowBut a full-blown conventional war would be devastating to both sides and highly destabilizing for the Middle East. Are these tit-for-tat blows between Israel and Iran clear evidence of all-out war, or carefully calibrated retaliation strikes? "With Israel's apparent strikes on Iran today, retaliating for Iran's attack on Israel last Sunday, we now have a direct nation-on-nation hot war," he told CNBC's "Capital Connection" Friday. 'Ball is back in Iran's court'Not everyone agrees that the line into wider war has been crossed, however. Within hours of the Israeli strikes, risk assets were already on their way back down, with international oil benchmark Brent crude turning lower for the session after a brief spike.

Persons: Atta Kenare, Benjamin Netanyahu, Joe Biden, Netanyahu, Ebrahim Raisi, Clay Seigle, CNBC's, Ehud Olmert, CNBC's Dan Murphy, Olmert, Ian Bremmer, Michael Singh, Israel, Rob Casey, Casey Organizations: AFP, Getty, Washington, Rapidan Energy Group, Israeli, Military, Israel, Eurasia Group, National Security Council, Wall Street, Signum Global Advisors, Anadolu, International Atomic Energy Agency, Brent Locations: Palestine Square, Tehran, Israel, Iran, U.S, Damascus, Gulf of Oman, Hormuz, Anadolu

☆ Earthquake jolts southern Japan's Ehime, Kochi prefectures
▼ + stars: | 2024-04-17 | by ( ) www.cnbc.com time to read: 1 min

An earthquake with a preliminary magnitude of 6.4 hit southern Japan late on Wednesday, the Japan Meteorological Agency said. The epicentre of the earthquake was the Bungo Channel, a strait separating the Japanese islands of Kyushu and Shikoku, the agency said, adding that no tsunami warning had been issued. Ehime and Kochi prefectures were hit by the quake with an intensity of 6 on Japan's 1-7 scale, the JMA said. No major damage has been reported so far, according to local media reports.

Organizations: Japan Meteorological Agency, JMA Locations: Japan, Kyushu, Shikoku, Ehime, Kochi

☆ Middle East tensions pose the biggest threat to rate cuts, European Central Bank policymaker says
▼ + stars: | 2024-04-17 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

Tensions in the Middle East pose the biggest threat to a prospective interest rate cut from the European Central Bank, according to ECB policymaker Robert Holzmann. "At this stage, I think the biggest threat is geopolitics, because we have seen what's happened in the Middle East," Austrian central bank governor Holzmann told CNBC's Karen Tso on Wednesday. Holzmann singled out ramifications for energy prices as the single most important factor in terms of Europe's fight to tame inflation. "As summer approaches we can start reducing the level of restriction in monetary policy, provided that inflation continues to fall as projected." He recently told Reuters that the ECB could moderate rates in June, indicating a growing consensus for a near-term move.

Persons: Robert Holzmann, Holzmann, Karen Tso, policymaker Olli Rehn, Rehn Organizations: European Central Bank, ECB, International Monetary, Bank of, Brent, U.S, West Texas, Reuters Locations: Austrian, Hormuz, Iran, Israel, Russia, Ukraine, Bank of Finland, London

☆ These 10 oil stocks are the most — and least — sensitive to price swings amid Iran-Israel tensions
▼ + stars: | 2024-04-16 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Crude oil prices have been volatile in April amid heightened geopolitical risks. Fears of a spillover conflict in the Middle East have led some market watchers to predict oil prices could soar to $100 per barrel and beyond . Any disruption in its capacity to supply global markets could send oil prices higher, analysts told CNBC. Oil and gas stocks that show a negative correlation with crude oil prices will enable investors to withstand any volatility while remaining invested in the sector. A correlation of 0 would mean no link between the crude oil price and the stock price.

Persons: Bartosz, Andy Lipow, — CNBC's Lee Ying Shan, Jenni Reid Organizations: Organization of, Petroleum, CNBC, Brent, Lipow Oil Associates, CNBC Pro, Energy Locations: Iran, Israel, Conotoxia, Hormuz, lockstep

☆ China's inaction on Iran has 'undermined' its influence in the Middle East, analyst says
▼ + stars: | 2024-04-16 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +1 min

China's restrained silence on the Middle East conflict is tipping the scales of regional influence back in the U.S.' favor, according to one analyst. "[Beijing's] role has been less pronounced than many expected, and actually I think it's undermined the sense of growing Chinese influence and confidence in the region," Julien Barnes-Dacey, director of the Middle East & North Africa program at the European Council on Foreign Relations, said on CNBC's "Street Signs" Tuesday. Last week, world leaders entreated China to use its considerable influence as a key trade partner to sway Tehran away from a direct attack against Israel, after an Israeli strike killed several top Iranian commanders in Damascus. Roughly 99% of these projectiles were eliminated by Israel, with help from the U.S., the U.K., France and Jordan. Since then, the specter of Israeli retaliation and a broader conflict in the Middle East has loomed large, with Washington stressing its commitment to Israeli defense and world leaders urging calm.

Persons: Julien Barnes, Dacey, Israel — Organizations: European Council, Foreign Relations, Israel Locations: U.S, Africa, China, Tehran, Israel, Damascus, Iran, Strait, Hormuz, France, Jordan, Washington

☆ 'Iran is in for the long haul' with oil tanker hijacks, expert says, as U.S. considers more sanctions
▼ + stars: | 2024-04-16 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

Before this weekend's tanker seizure, the last vessel Iran hijacked was the St. Nikolas on January 1. A Planet Labs satellite image of the location of the MSC Aries and other tankers recently hijacked by Iran. Planet Labs PBCAs the U.S. considers more sanctions against Iran in response to its recent attack on Israel, Iran has been using the hijacked ships as a means of sanctions retaliation. Iran chose to do this as a way to compensate for sanctions," Madani said. In a note to clients, ClearView highlighted that the House of Representatives added several Iran sanctions bills to its calendar for consideration this week, under suspension rules, including new sanctions on Iranian oil exports to China.

Persons: Nikolas, Houthis, Samir Madani, Eyal Ofer's, Madani, Janet Yellen, Helima Croft, Andy Lipow, Brent, Lipow, Kevin Book, Book Organizations: Anadolu, Getty, MSC Aries, U.S . Naval Forces Central Command, Galaxy Leader, MSC, Planet Labs, U.S . Energy Information Agency, United Arab, JPMorgan, CNBC, Lipow Oil Associates, ClearView Energy Partners, US, UN Locations: Gulf of Oman, Hormuz, Anadolu, Iran, Israel, Gaza, U.S, Iranian, Khuran, China, Russia, Malaysia, United Arab Emirates, Oman, Strait, Tehran, East, North Africa, India, Saudi Arabia, Kuwait, Iraq, France, Germany

☆ Oil prices fall after Iran attack as market draws down risk premium
▼ + stars: | 2024-04-15 | by ( ) www.cnbc.com time to read: +2 min

Oil prices fell at Asia's open on Monday, as market participants dialed back risk premiums following Iran's attack on Israel late on Saturday which the Israeli government said caused limited damage. The attack involving more than 300 missiles and drones was the first on Israel from another country in more than three decades. Oil benchmarks had risen on Friday in anticipation of a retaliatory attack by Iran, touching their highest levels since October. But prices still ended the week down about 1% after the International Energy Agency lowered its forecast for oil demand growth this year. A "less certain path to Fed rate cuts" because of persistent U.S. inflation also weighed on prices, Sycamore said.

Persons: Brent, Tony Sycamore, Jorge Leon, Analysts, Sycamore Organizations: West Texas, Israel's, Iran, International Energy Agency, Rystad Energy Locations: Tutong district, Brunei, Israel, Iran, Damascus, Gaza, U.S, Syria, Strait, Hormuz, East, Europe

☆ Wall Street's scenarios for the Israel-Iran conflict from here and its impact on the oil market
▼ + stars: | 2024-04-15 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

The oil market has brushed off Iran's weekend air assault against Israel, with futures trading as much as 1.5% lower on Monday. Oil prices could spike above $100 a barrel depending on how Israel responds to the attack, the analyst wrote. Attack 'well-telegraphed' Iran's attack, though unprecedented, did little actual damage as Israel and the U.S. intercepted nearly all the drones and missiles. The Islamic Republic warned, however, it would strike harder next time if Israel responds to the weekend attack. Potential threats include Iran seizing ships associated with Israel in the Strait of Hormuz; Israel attacking Iranian oil and gas assets; or Iran striking energy assets of its neighbors if Israel hits too hard.

Persons: Israel, Maximilian Layton, Layton, Brent, Helima Croft, CNBC's, Natasha Kaneva, Kaneva, Goldman, Daan Struyven, RBC's Croft, Jan Stuart, Piper Sandler, Stuart Organizations: Citi ., Brent, Citi, RBC Capital Markets, RBC, U.S, United Nations, Islamic, JPMorgan, CNBC Locations: Israel, Iran, Damascus, Syria, Tehran, Lebanon, Republic, Islamic Republic, Goldman Sachs, Strait, Hormuz, Iranian

☆ Oil prices could see 'super spike well above $100' if conflict escalates after Iran's attack on Israel
▼ + stars: | 2024-04-15 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +3 min

Any disruption in its capacity to supply global markets could send oil prices higher, analysts told CNBC. Insufficient investment makes supply more fragile and increases the chance of a super spike well above $100 if supply is disrupted. Stock Chart Icon Stock chart icon Oil prices since the start of the year. "I think oil prices will go to all time highs this cycle, due to a decade of under-investment in exploration and development," Young added. Oil prices have climbed in recent months on trade disruptions and delays caused by Red Sea maritime attacks from the Houthis, who claim solidarity with the Palestinian people.

Persons: Saeid Arabzadeh, Israel reigniting, Andy Lipow, Daniel Hagari, Josh Young, Brent, Young, Morgan Stanley's Organizations: Afp, Getty, OPEC, CNBC, Brent, Lipow Oil Associates, Israel Defense Forces, Bison, Iran's United Nations, underinvestment, U.S, West Texas Locations: Persian, Iran, Hormuz, Oman, Israel, Damascus, Syria, Asia

☆ Restraint or retribution? Israel faces dilemma in its response to Iran’s attack
▼ + stars: | 2024-04-15 | by ( Nadeen Ebrahim | Jeremy Diamond | ) edition.cnn.com time to read: +10 min

Israel must balance international pressure to show restraint on the one hand, while searching for an appropriate response to an unprecedented attack. Western and Arab allies of Israel have been discouraging it from responding to Iran’s attack. Benny Gantz, a key member of the war cabinet, has pushed for a swifter response to Iran’s attack, two Israeli officials told CNN. He believes that the longer Israel delays its response to Iran’s attack, the harder it will be to garner international support for it, the sources said. Risking Arab tiesArab states, including those that are friendly with Israel, have expressed concern about a potential escalation from Iran’s attack, but haven’t outright condemned it.

Persons: CNN —, Benjamin Netanyahu, ”, Raz Zimmt, Israel …, Amir Cohen, ” Zimmt, Alon Pinkas, Tamir Hayman, Israel’s, Jordan, ” Hayman, Joe Biden, Biden, Adam Schultz, Netanyahu, Netanyahu’s, it’s, ” Pinkas, Pinkas, Louai Beshara, Israel, ” Yaakov Amidror, Iran’s, Benny Gantz, haven’t, CNN’s Becky Anderson, Ayman Safadi, ” Safadi Organizations: CNN, Islamic, Analysts, Hamas, Institute for National Security Studies, Sunday, Reuters, National Security, White, Domestic, Getty Locations: CNN — Israel, Islamic Republic, Israel, Iran, Damascus, Gaza, Tel Aviv, Tehran, Ashkelon, Israeli, France, Pinkas, Iranian, Syria, AFP, Rafah, United States, Jerusalem, Jordanian, “, Persian, Hormuz

☆ Rising oil is still the big market risk despite today's pullback, analysts say
▼ + stars: | 2024-04-15 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Markets kept their cool on Monday amid a fast-moving and volatile geopolitical landscape in the Middle East — but the longer-term risk premium has likely risen, while oil prices remain on edge, analysts said. Iran said it was acting in self-defense in response to a strike on its diplomatic compound in Damascus, Syria, earlier this month. By Monday, global players including the U.S. and European leaders were seeking to cool tensions, urging Israel to show restraint in its response. Sinha nevertheless added that "the fact that we moved from a proxy confrontation to a direct confrontation, even though that de-escalates in the near term, the longer term risk premium probably goes up." "I think the FX market ultimately will take its cue from oil prices because ultimately, that's the channel through which it spills over to the FX market," he said.

Persons: Adarsh Sinha, CNBC's, Sinha Organizations: U.S . Energy Information Administration, U.S, Asia FX, Bank of America, Iranian, FX Locations: Iran, Israel, Damascus, Syria, Strait, Hormuz, Tehran, Asia, U.S

☆ Here’s how the Israel-Iran conflict affects the oil market
▼ + stars: | 2024-04-15 | by ( Anna Cooban | ) edition.cnn.com time to read: +6 min

Oil prices spiked Friday to levels not seen since October in anticipation of just such an escalation but on Monday were subdued. “It is the most significant chokepoint in the global oil market,” Richard Bronze, co-founder and analyst at data firm Energy Aspects, told CNN. A renewed crackdown would, however, “create upward pressure on global prices” at an inopportune moment, Tagliapietra said. A tight oil marketDespite Iran’s barrage of drones and missiles, the conflict had a relatively muted impact on the global oil market Monday. Oil prices have already risen sharply since hitting a low in early February.

Persons: London CNN —, Brent, Israel —, Simone Tagliapietra, ” Richard Bronze, Tagliapietra, Joe Biden’s, WTI, Russia — Organizations: London CNN, West Texas Intermediate, CNN, International Energy Agency, Hamas, Organization of, Petroleum, United Arab Emirates, Traders Locations: Israel, Iran, Syria, Paris, Gaza, Tehran, Hormuz ‘, Hormuz, Brussels, China, Strait, Saudi Arabia, Kuwait, United States, Ukraine, Washington, Damascus, OPEC, Russia, Brazil, Guyana, Canada

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